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This Month in Real Estate eNewsletter - April 2017

Raymond P. (Randy) Reis III

Raymond P...

Raymond P...

Feb 8 3 minutes read




March 2017 Market Update
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Monthly VideoHome sales surged ahead in March, reaching the fastest pace in over 10 years according to the National Association of REALTORS®. Despite ongoing inventory constraints in many parts of the country and a healthy, growing median home price, homes are selling at a rapid rate as buyers scoop up available properties.

Interest Rates
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Monthly VideoAccording to Freddie Mac, 30-year fixed rates ticked down from 4.23 percent to 4.03 percent. This rate remains well below the historical average of 8.90 percent.
 

Home Sales
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Home Price Graph

The median home price increased to $236,400 in March, which was up 3.6 percent from February and up 6.7 percent from March of last year. The median home price has increased by approximately $14,900 in the past year alone.


Home Prices
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Home Price Graph

The median home price increased to $228,400 in February, which was up 0.5 percent from January and up 7.7 percent from February of last year. The median home price has increased by approximately $16,300 in the past year alone. 


Inventory
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Inventory Graph


There was a 3.8-month supply of housing inventory in March, which was flat compared to February. The total number of available homes for sale decreased by 13.6 percent compared to March of last year.


Brought to you by KW Research. For additional graphs and details, please see the This Month in Real Estate PowerPoint Report.The opinions expressed in This Month in Real Estate are intended to supplement opinions on real estate expressed by local and national media, local real estate agents and other expert sources. You should not treat any opinion expressed on This Month in Real Estate as a specific inducement to make a particular investment or follow a particular strategy, but only as an expression of opinion. Keller Williams Realty, Inc., does not guarantee and is not responsible for the accuracy or completeness of information, and provides said information without warranties of any kind. All information presented herein is intended and should be used for educational purposes only. Nothing herein should be construed as investment advice. You should always conduct your own research and due diligence and obtain professional advice before making any investment decision. All investments involve some degree of risk. Keller Williams Realty, Inc., will not be liable for any loss or damage caused by your reliance on information contained in This Month in Real Estate.

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8220 Narrows AvenueBrooklyn, NY 11209
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